(Yicai Global) Aug. 28 – Investors' bullishness on securities shares after a report that initial public offering fundraising hit a 10-year high boosted Chinese stock markets to ring out the week with a much higher close.

The Shanghai Composite Index wound up 1.6 percent higher to 3,403.81. The Shenzhen Component Index surged 2.34 percent to 13,851.32. The ChiNext, which tracks growth enterprises listed in Shenzhen, soared to 2,757.84, up 2.55 percent.

The Shanghai Composite Index rose 0.31 percent during the entire week, while the Shenzhen Component Index totted up 0.65 percent growth. The ChiNext was up 0.8 percent.

Securities shares rose nearly 3 percent, after the Securities Times reported China's IPO fundraising has exceeded CNY290 billion (USD42.2 billion) since the start of the year, surpassing any year between 2011 and last year.

Editor: Ben Armour